Buyers of new-build apartments and houses at a property development in Perth’s northern suburbs are being presented an innovative solar power purchase agreement which commits to reducing their power costs at daytime by as much as 40 percent.
A report posted on the website of RenewEconomy stated the residential solar scheme is being tested at Yolk Property Group’s Amble Estate in Girrawheen – a combination of 129 “affordable and highly sustainable” houses, apartments, and townhouses.
The deal presents home buyers who chose the “sustainable living package” a rooftop solar system between 3.8 to 4.8 kW, to be installed at no upfront cost.
The article further explained the setup stating, “Instead, the household enters into a 10-year solar PPA direct with Infinite Energy, giving that company ownership and maintenance responsibilities for the solar system for the term of the contract. In return, the homeowner gets access to daytime solar power at a guaranteed discounted rate of net 40 percent less than the A1 grid tariff offered by WA government-owned retailer, Synergy.”
Households will be billed separately for any power consumed from the grid, minus credits for exported energy.
When the 10-year contract term ends, the ownership of the system can be transferred to the homeowner for as little as $1.00, or the system can also be uninstalled if it is no longer wanted or needed by the household.
According to Tao Bourton, Yolk Property Director, “Australians pay the highest rates for residential electricity in the world and this aims to remedy that with a model that can be rolled out nationally. The PPA allows residents to take advantage of significant savings on their social electricity for an entire decade; after that, residents can take ownership of the solar equipment to enjoy free solar power for the life of the equipment, which is over 20 years, delivering cost savings to two generations.”
Greg Cash, the Department of Communities Assistant Director General of Commercial Operations, commented, “By offering home buyers this solar energy package, we see this project as leading the way in combining affordable home purchase with improved affordability of living while also allowing savvy purchasers to reduce their impact on the environment.”
Read the full report here.
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